I believe they are required to examine liquidation scenarios as part of their due diligence, but most of their time is being spent on restructuring and preparing the airline for sale.

There aren’t enough shares currently trading for you to acquire 5% of the company, even if you wanted to. Once the liabilities tied to the 38+ aircraft grounded due to engine problems come off the balance sheet, their numbers will improve. However, they are going to still experience losses for awhile.

No Spirit didn't "make" $20M. The terminated leases are on the balance sheet and because the accounted for liability of the leases was more than the accounting value of leases terminated, this is an income GAIN under GAAP.

All adjustments to the balance sheet have to show as a gain or loss for income reporting because of tax liability. Spirit lost $96M in operating as an airline in October, but there was a $124 DIFFERENCE between the Asset value and Liability value, it came over as a "gain" for earnings. But it was non cash and only affected possible future tax payments on earnings, which it would have because it has billions in NOL carryforwards.

Yes but in that very same document "liquidation analysis" was a grand total of 35 hours out of the 2687 hours billed. That hardly would seem to be a focus or plan, just a due dilligence matter.

Whether they can avoid that fate or not is an open question, but it does not seem to be management's plan or intended course of action at this time.

"because it has billions in NOL carryforwards"

Missing stuff like this and a thousand other angles is why none of the takes on here are worth much.

The difference between an investment banker/airline/PE view of Spirit and its value vs the way pilots look at it is a mile wide.

This entire thread is a bunch of blind fools feeling around in the dark.

Its literally on the 10-K. Over $2B total in NOL carryforwards between federal and state taxes.

Exactly! They have to do it, but that's not what they're spending all their time on.

You misread my post.

I am saying the NOL carry-forwards are just one example of the many intricacies of this situation. Meanwhile we have pilots thinking they know what is likely to happen based on cherry picking random filings, brand pecking order, seniority list integrations, etc.

The situation doesn't look good and hasn't for 5 years but we are at the precipice of this resolving, one way or another. That's about all we know.

Another 1/2 truth. Their net income for October was + $20 million and that's the bottom line.

Webster's dictionary defines net income as the balance of gross income left after subtracting all allowable deductions, exemptions, and necessary business expenses (like taxes, operating costs, interest) from total earnings, essentially the "take-home" or profit. It's the money you keep or the true profit a company makes after all costs are covered, often called the "bottom line"

It’s manly just two people plugging stuff into chatgpt frantically and plagiarizing the output.